Business Management
How do businesses transfer risk?
A. Screen employees
B. Implement security measures
C. Check for hazards
D. Obtain insurance
D. Obtain insurance
Which of the following is the most likely action that the government takes when a person misses the deadline for filing his/her income tax return:
A. Allowance
B. Refund
C. Extension
D. Penalty
D. Penalty
You have to let one of your employees know you must reduce his hours because of budget cuts. You should deliver this information to your employee in a(n)
A. letter.
B. phone call.
C. email.
D. in-person meeting.
D. In person meeting
A business is most likely to set sales-oriented pricing objectives when its focus is to
A. survive during short-term financial problems.
B. improve its cash flow.
C. earn a return on investment.
D. be more competitive in the marketplace.
D. be more competitive in the marketplace.
Which of the following is a tax-deductible gift:
A. Stocks
B. Vacation home
C. Charitable donation
D. Inherited items
C. Charitable donation
Which of the following is an example of a government regulation that affects a business's working conditions:
A. Zoning laws
B. Food inspection
C. Minimum wage
D. Price supports
C. Minimum wage
The purpose of a company's operations function is to manage its
A. day-to-day activities.
B. long-term goals.
C. communications.
D. employees.
A. day-to-day activities.
Corey is writing an online banner advertisement to sell her new line of handmade toys. What type of writing is Corey doing?
A. Responsive
B. Persuasive
C. Informative
D. Passive
B. Persuasive
What is an effect of monitoring your progress while working toward a goal?
A. It makes your goal more challenging and time-consuming.
B. It adds external pressure to accomplish tasks.
C. It encourages communication throughout the process.
D. It increases the likelihood that you will succeed.
D. It increases the likelihood that you will succeed.
Yazmin earned $5,000 from her summer job. If she invests it at a rate of 5%, how much will it be worth in two years?
A. $5,025.50
B. $10,250
C. $5,500
D. $5,512.50
D. $5,512.50
When companies work with their vendors to develop mutually beneficial business arrangements, they are more likely to
A. double their profit margins.
B. maintain long-term relationships.
C. experience vertical conflict.
D. experience horizontal conflict.
B. maintain long-term relationships.
What concept is illustrated in the following situation: A new business uses newspaper publicity and personal selling to attract customers and plans a special sales event to generate publicity for its grand opening.
A. Advertising media
B. Institutional promotion
C. Product promotion
D. Promotion
D. Promotion
If a person knows that s/he will not be punished for unethical behavior, his/her ethical dilemma could be motivated by
A. pressure from others.
B. a lack of consequences.
C. the desire to prove her/himself.
D. bad role models.
B. a lack of consequences.
The primary difference between amplified word-of-mouth marketing and organic word-of-mouth marketing is that
A. amplified is passive, and organic is interactive.
B. amplified is personal, and organic is nonpersonal.
C. amplified is goods-oriented, and organic is service-oriented.
D. amplified is planned, and organic is spontaneous.
D. amplified is planned, and organic is spontaneous.
By understanding the time value of money concept, you know that
A. saving money can buy time on debt payment.
B. it is better to receive $101 a year from now than $100 today.
C. it is better to receive $100 today than $101 a year from now.
D. time and money are related by due date.
C. it is better to receive $100 today than $101 a year from now.
What management function is responsible for coordinating resources in ways that maximize efficiency?
A. Organizing
B. Staffing
C. Directing
D. Controlling
A. Organizing
Which of the following types of business organizations reduces or limits the risk of its stockholders:
A. Franchise
B. Sole proprietorship
C. Corporation
D. Partnership
C. Corporation
What might result if an event promoter scheduled a major concert in a facility that consumers considered to be located in an unsafe area?
A. Reduced sales
B. Decreased parking
C. Limited access
D. Shortened hours
A. Reduced sales
Which of the following statements accurately describes the relationship among innovation, learning, and change:
A. Internal and external changes trigger innovation, leading to new learning.
B. Innovation triggers internal and external changes, leading to new learning.
C. New learning triggers innovation, leading to internal and external changes.
D. Internal and external changes trigger new learning, leading to innovation.
D. Internal and external changes trigger new learning, leading to innovation.
Comparing the prices offered by different vendors for the same goods and services is what part of the
purchasing process?
A. Price fixing
B. Bid analysis
C. Invoice payment
D. Receipt of goods
B. Bid analysis
What is most likely to happen if a purchaser negotiates lower prices for raw materials?
A. The company will be limited in which type of materials can be purchased.
B. The company will be able to purchase more materials and increase production.
C. Increases in productivity will lead to higher costs.
D. Communication processes will be improved.
B. The company will be able to purchase more materials and increase production.
One reason it is important for marketing professionals to follow ethical standards is to
A. build positive relationships with other individuals and businesses.
B. remove the risk of uncontrolled competition in the marketplace.
C. improve working conditions and financial security.
D. prevent unnecessary changes in the business environment.
A. build positive relationships with other individuals and businesses.
A fast-food restaurant decides to add a new line of salads to its menu. The company is using a(n) ___________ product-mix strategy.
A. expansion
B. contraction
C. trading-up
D. trading-down
A. expansion
When businesses take the time to study their competition, they can
A. hurt their competitors' reputations.
B. ensure that their competitors lose sales and go out of business.
C. help their competition attract more customers.
D. learn which customer service strategies work and which don't.
D. learn which customer service strategies work and which don't.
What is the primary reason that creditors analyze their customers' financial information?
A. To determine how often their customers' inventory turns over
B. To know whether they're making a good investment
C. To determine the likelihood of getting paid
D. To understand the type of accounting method customers use
C. To determine the likelihood of getting paid